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S 2463 108th Congress Senate Taxation Collection of accounts Economic growth Economics and Public Finance Families Finance and Financial Sector Income tax Job creation Labor and Employment Married people Saving and investment Social Welfare Social security taxes Tax rates Taxpayers

Tax Code Termination Act

Introduced: May 20, 2004 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 20, 2004
Read twice and referred to the Committee on Finance.
May 20, 2004
Introduced in Senate
 Plain-English summary Congressional Research Service

Tax Code Termination Act - Mandates the termination of the Internal Revenue Code of 1986 after December 31, 2009, except for self-employment taxes, Federal Insurance Contributions Act taxes, and Railroad Retirement taxes.

Declares that any new Federal tax system should be a simple and fair system that: (1) applies a low rate to all Americans; (2) provides tax relief for working Americans; (3) protects the rights of taxpayers and reduces tax collection abuses; (4) eliminates the bias against savings and investment; (5) promotes economic growth and job creation; and (6) does not penalize marriage or families.

Requires that the new Federal tax system be approved by Congress in its final form by July 4, 2009.

What's happening now May 20, 2004

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2